I wouldn’t call this a “major rebranding” at all. A rebranding is when you change your brand, your name and logo. Facebook → Meta is a rebranding. Google → Alphabet is a rebranding. The companies changed their names and image, though they kept products with the old names (and thus fooled no one). This is still SUSE and still uses the chameleon. They’re renaming (and possibly rebranding) specific products but the company is as recognisable as ever.
Imagine a world where it was enough to just produce a good distro and sell licenses/tools/support.
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